BY 2021, Australia will have twice the number of retirement village units than it does now, according to a new report by advisory firm Ernst & Young.

EY Real Estate Advisory Partner Marcus Willison said a new study, based on population trends in Australia and New Zealand, suggests Australia's stock of retirement village units will increase by about 60,000 to more than 128,000 by 2021.

He said "the ageing population trend within both Austalia and New Zealand will have a marked impact upon the growth of the retirement village industry, with the number of people aged 65 and over forecast to double and triple in both countries within the next 35 years."

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